Global Sodium Reduction Ingredients Market
Dublin, Aug. 25, 2023 (GLOBE NEWSWIRE) -- The "Sodium Reduction Ingredients Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global sodium reduction ingredients market is on track for substantial growth, with an anticipated increase from $1.16 billion in 2022 to $1.29 billion in 2023, reflecting a notable compound annual growth rate (CAGR) of 10.5%. The market is projected to further expand to $1.88 billion by 2027, with a CAGR of 9.9%.
Market Drivers: Demand for Processed Foods
The surge in demand for processed foods is poised to be a prime driver for the sodium reduction ingredients market. Processed foods, which undergo various modifications during preparation, have garnered heightened interest. This demand is particularly notable in emerging countries, where economic growth has led to increased income levels and subsequently, a higher appetite for processed and fast foods. Sodium is frequently added to processed and packaged foods for a variety of purposes, including microbial growth inhibition, flavor enhancement, texture improvement, and meat curing. This trend is evident in the processed food and drink industry, which reported a substantial turnover of $136.43 billion in 2021, marking a 3.4% increase from the previous year. The escalating demand for packaged food is expected to directly contribute to the growth of the sodium reduction ingredients market.
Technological innovation stands out as a significant trend within the sodium reduction ingredients market. Industry players are actively investing in new technologies to reduce sodium content and secure their market positions. For instance, Phyto Corporation, a South Korea-based food technology company, introduced PhytoSalt in May 2020 - an innovative, plant-based salt capable of reducing sodium intake by 40%. This breakthrough offers the same flavor, functionality, and taste as regular salt while addressing the health concerns associated with high sodium consumption. Sensient Technologies Corporation, a US-based manufacturer, also demonstrated its commitment to innovation by acquiring Flavor Solutions Inc. in July 2021. This move expanded Sensient's technological capabilities, adding crucial technologies to its portfolio, particularly in the area of salt reduction and taste modulation.
Regional Landscape and Key Players
In 2022, North America led the sodium reduction ingredients market, underscoring the region's significance in this sector. The market's coverage extends across regions including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
Key players in the sodium reduction ingredients market include Cargill Incorporated, Angel Yeast Company Limited, Kerry Group Public Limited Company, Givaudan Societe Anonyme, Innophos Holdings Incorporated, Jungbunzlauer Suisse Aktiengesellschaft, K+S Kali GMBH, Royal DSM Naamloze Vennootschap, Advanced Food Systems Incorporated, Dr. Paul Lohmann GmbH & Co. KG, Associated British Foods Public Limited Company, Tate & Lyle Public Limited Company, Sensient Technologies, and Bio Springer S.A.
The sodium reduction ingredients market is poised for substantial growth, driven by the increasing demand for processed foods and the ongoing pursuit of innovative technologies to reduce sodium content. With diverse trends and factors at play, the market is likely to witness transformative shifts in the coming years.
|No. of Pages||250|
|Estimated Market Value (USD) in 2023||$1.29 Billion|
|Forecasted Market Value (USD) by 2027||$1.88 Billion|
|Compound Annual Growth Rate||9.9%|
Key Topics Covered
1. Executive Summary
2. Sodium Reduction Ingredients Market Characteristics
3. Sodium Reduction Ingredients Market Trends And Strategies
4. Sodium Reduction Ingredients Market - Macro Economic Scenario
4.1. COVID-19 Impact On Sodium Reduction Ingredients Market
4.2. Ukraine-Russia War Impact On Sodium Reduction Ingredients Market
4.3. Impact Of High Inflation On Sodium Reduction Ingredients Market
5. Sodium Reduction Ingredients Market Size And Growth
5.1. Global Sodium Reduction Ingredients Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Sodium Reduction Ingredients Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Sodium Reduction Ingredients Market Segmentation
6.1. Global Sodium Reduction Ingredients Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Mineral Blend
- Amino Acid
- Yeast extracts
- Other Types
6.2. Global Sodium Reduction Ingredients Market, Segmentation By Mineral Blend, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Potassium Sulphate
- Magnesium Sulphate
- Calcium Chloride
- Potassium Lactate
- Potassium Chloride
6.3. Global Sodium Reduction Ingredients Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Bakery And Confectionery
- Dairy And Frozen Foods
- Meat Products
7. Sodium Reduction Ingredients Market Regional And Country Analysis
7.1. Global Sodium Reduction Ingredients Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Sodium Reduction Ingredients Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
A selection of companies mentioned in this report includes:
- Cargill Incorporated
- Angel Yeast Company Limited
- Kerry Group Public Limited Company
- Givaudan Societe Anonyme
- Innophos Holdings Incorporated
- Jungbunzlauer Suisse Aktiengesellschaft
- K+S Kali GmbH
- Royal DSM Naamloze Vennootschap
- Advanced Food Systems Incorporated
- Dr. Paul Lohmann GmbH & Co. KG
- Associated British Foods Public Limited Company
- Tate & Lyle Public Limited Company
- Sensient Technologies
- Bio Springer S.A.
For more information about this report visit https://www.researchandmarkets.com/r/7809rk
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
plant-based kerry group kerry